How much liability coverage do you have/suggest?
Right now I have no liability insurance on any properties. All are owned free and clear so I don't have to have insurance but I'm worried that a tenant will slip and fall in the tub and sue me. I have fire on a single fam home (only $200/yr) and just the master HOA insurance policy on 3 condo units.
Is liability coverage of $100,000 per occurance enough? $300,000? Do I need to get a $1m umbrella?
FYI--In order to get any liability insurance, I must ensure one condo for property damage ($350/yr) and then I can add liability on dwellings rented to others for about $25/yr for each unit. Also, it seems stupid that the condo interior costs more than fire on a single fam. dwelling. And they require having my auto policies as well, which is at a higher rate than my current carrier.